Vero Beach South, FL Cost of Living

Vero Beach South cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

A general summary of the cost of living index in Vero Beach South, FL is shown above. Compared to the state average of Florida the cost of living index in Vero Beach South, FL is 99, which is 1% lower than the average in Florida and compared to the national average it is 1% lower than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Vero Beach South, FL goods and services come in at 1% higher than the average in Florida and are 2% higher than compared to the nationwide average.

Did you know?

The cost of living in Vero Beach South is 1% lower than the Florida average.

The cost of living in Vero Beach South is 1% lower than the national average.

The cost of housing in Vero Beach South is 18% lower than the national average.

Florida general sales tax is 18% higher than the national average.

Florida state income tax is 100% lower than the national average.

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Compare Vero Beach South, FL Cost of living To Other Cities

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Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

The salary calculator is used in order to provide a comparison of your current salary in Vero Beach South, FL to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Vero Beach South, FL, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Vero Beach South, FL salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$54,480

$4,540

$1,271

$1,635

Renters

$28,204

$2,350

$658

$846

A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Vero Beach South, FL, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Vero Beach South, FL has a median income of about $54,480 for people who own homes. Based on that number, a person should spend a maximum of $1,271 on expenses related to housing. Renters have a slightly different median income, which is $28,204. Based on this average, renters should spend no more than $658 on all of their rental costs if they want to maintain a non-impoverished standard of living.

Florida Sales Tax

State

General Sales Tax

With Max Surtax

Florida

6%

7.5%

Florida Income Tax

State

Income Tax (Low)

Income Tax (High)

Florida

0%

0%

When assessing the complete cost of living in Vero Beach South, FL, the Florida income tax and the Florida sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Florida maximum surtax is 7.5%, and the Florida sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0% to 0% in Florida.

Goods & Services

Item

Vero Beach South

National avg.

Difference

Haircut

$14.67

$14.59

0.5%

Beauty Salon

$42.67

$34.68

23.0%

Toothpaste

$3.00

$2.47

21.3%

Shampoo

$1.05

$1.02

2.7%

Movie

$9.13

$9.87

7.5%

Bowling

$4.75

$4.39

8.2%

Groceries

Item

Vero Beach South

National avg.

Difference

Ground Beef

$4.49

$4.48

0.3%

Fried Chicken

$1.64

$1.46

12.0%

Milk

$2.83

$2.36

20.1%

Potatoes

$3.94

$3.06

28.7%

Pizza

$8.99

$9.24

2.7%

Beer

$8.99

$8.63

4.1%

Health Care

Item

Vero Beach South

National avg.

Difference

Optometrist

$105.00

$99.78

5.2%

Doctor

$77.53

$105.03

26.2%

Dentist

$95.00

$88.70

7.1%

Ibuprofen

$11.24

$9.41

19.4%

Lipitor

$280.37

$298.50

6.1%

Housing

Item

Vero Beach South

National avg.

Difference

Home Price

$135,800.00

$175,700.00

22.7%

Avg. Mortgage Payment

$973.83

$1,081.03

9.9%

Apartment Rent

$855.00

$920.00

7.1%

Transportation

Item

Vero Beach South

National avg.

Difference

Gasoline

$2.15

$2.09

2.9%

Tire Balancing

$39.98

$45.29

11.7%

Utilities

Item

Vero Beach South

National avg.

Difference

All Electricity

$209.21

$170.80

22.5%

Phone

$35.75

$28.26

26.5%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.